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Condensed Consolidated Balance Sheets - USD ($)
Sep. 30, 2021
Mar. 31, 2021
Current assets    
Cash and cash equivalents $ 98,105,235 $ 79,330,007
Restricted cash - current 5,315,951 5,315,951
Trade receivables, net and accrued revenues 347,230 202,221
Due from related parties 29,805,770 56,191,375
Inventories 1,780,298 2,007,464
Prepaid expenses and other current assets 10,933,818 10,296,229
Total current assets 146,288,302 153,343,247
Fixed assets    
Vessels, net 1,311,063,981 1,377,028,255
Vessels under construction 8,059,748  
Other fixed assets, net 105,735 148,836
Total fixed assets 1,319,229,464 1,377,177,091
Other non-current assets    
Deferred charges, net 10,658,199 10,158,202
Due from related parties-non-current 22,000,000 23,100,000
Restricted cash - non-current 80,651 81,241
Operating lease right-of-use assets 12,928,782 17,672,227
Other non-current assets 413,528 82,837
Total assets 1,511,598,926 1,581,614,845
Current liabilities    
Trade accounts payable 9,432,098 9,831,328
Accrued expenses 9,579,112 8,765,264
Due to related parties 37,434 117,803
Deferred income 613,266 853,983
Derivative instruments 487,361 1,100,529
Current portion of long-term operating lease liabilities 9,666,997 9,591,447
Current portion of long-term debt 66,472,664 51,820,283
Dividends payable 230,090  
Total current liabilities 96,519,022 82,080,637
Long-term liabilities    
Long-term debt-net of current portion and deferred financing fees 500,391,565 539,651,761
Long-term operating lease liabilities 3,252,857 8,080,995
Derivative instruments 2,919,306 3,454,862
Other long-term liabilities 1,566,886 1,521,260
Total long-term liabilities 508,130,614 552,708,878
Total liabilities 604,649,636 634,789,515
Commitments and contingencies
Shareholders' equity    
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued nor outstanding
Common stock, $0.01 par value, 450,000,000 shares authorized, 51,275,609 and 51,071,409 shares issued, 40,140,366 and 41,493,275 shares outstanding (net of treasury stock), as of September 30, 2021 and March 31, 2021, respectively 512,757 510,715
Additional paid-in-capital 758,711,553 756,776,217
Treasury stock, at cost; 11,135,243 and 9,578,134 shares as of September 30, 2021 and March 31, 2021, respectively (121,209,001) (99,862,114)
Retained earnings 268,933,981 289,400,512
Total shareholders' equity 906,949,290 946,825,330
Total liabilities and shareholders' equity $ 1,511,598,926 $ 1,581,614,845